Association of African diamond-producing countries to be created in Angola

2 December 2005

Luanda, Angola, 02 Dec – The Association of Diamond-Producing Countries will be created in Luanda in 2006 and its priority will be to standardize legislation among member countries, the Angolan government said Thursday.

On the sidelines of the cabinet meeting that approved the creation of a commission to prepare the event, the chairman of Angola’s diamond company, Endiama, Bernardo Campos said that the association would bring an end to “legal uncertainty and great disparities,” in the legislation of diamond-producing African countries.

Africa is considered to be the continent that is richest in diamonds and represents around half of world production, with particular emphasis on countries such as South Africa, Namibia and Botswana.

Angola is currently one of the world’s main exporters of diamonds, with annual sales of around US$800 million.

The association is expected to be set up in the first half of next year, according to the Angolan authorities.

The Angolan government also approved the creation of an organizing commission for an international diamond conference to be held in Luanda in 2008. (macauhub)